Former CEO of BitMEX releases $10 million bail after surrender in Hawaii (www.blockcast.cc)

[Blockchain Today reporter Seo-yeon Jang] Cointelegraph reported that the former CEO of BitMEX was released on bail for $10 million after surrendering in Hawaii.

Former BitMEX CEO Arthur Hayes surrendered to US authorities in Hawaii on Tuesday, six months after a federal prosecutor’s first indictment against him and three fellow executives.

Hayes’ lawyers said in a statement that a Singapore resident was “a self-proclaimed entrepreneur who was falsely accused of a crime he did not commit.” .

Hayes was released after issuing a $10 million bail bond, awaiting future progress in New York.

Hayes’ lawyers proposed surrendering in Hawaii last month. Debates focused on Hayes’ possible release were about a $10 million bail bond, the maintenance of a passport for travel between Singapore and the United States, and abandonment of extradition, a mutually agreed offense.

Hayes spokespersons began talking with the U.S. government after his charges were released in October 2020.

The government sued Hayes and BitMEX co-owners Ben Delo and Greg Dwyer. And Samuel Reed, former CTO of BitMEX, failed to comply with legal anti-money laundering measures, and failed to prevent US residents from accessing the exchange even though the company was not registered with the Commodity Futures Trading Commission. Violation of protection laws.

Reed was arrested in October, and Delo was released on bail, pleading innocence late last month, and voluntarily surrendering to New York authorities. Deweyer still remains in great controversy, but his lawyers state that he has informed the U.S. government that he is willing to fight his whereabouts or charges against him.

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Hawaii announces first cohort of its digital currency sandbox (www.blockcast.cc)

• The Digital Currency Innovation Lab (DCIL) has shortlisted 12 companies.
• The companies will be allowed to transact in digital currencies without having a money transmitter license.
• DCIL will run a two-year program to help legislators create a policy on digital currencies.

The Hawaii Technology Development Corporation (HTDC) has announced the first batch of participants of the state’s Digital Currency Innovation Lab (DCIL) program through a press release published on August 19, 2020. The selected companies will carry out crypto-related activities without acquiring the state’s money transmitter license.

DCIL was launched on March 17th  through a partnership by the state’s Department of Commerce and Consumer Affairs, The Division of Financial Institutions (DFI) and HTDC.

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According to the statement, the two-year program has been accepting applications since March and has received submissions from 19 applicants.

Len Higashi, the executive Director of HTDC, is impressed by the response by companies. He stated,

“The response we have received from participating companies and the community is testament to the value of our program in advancing the potential adoption of digital currencies in the state. Through the DCIL, we hope to identify opportunities for economic development through this effort and very optimistic that we will be able to do so.“

Hawaii’s DCIL first cohort

After a comprehensive review, 12 digital currency issuers were shortlisted. They are Apex Crypto, bitFlyer USA, BlockFi Trading, CEX.IO, Cloud Nalu, Coinme, ErisX, Flexa Network, Gemini Trust Company, Novi Financial, River Financial and Robinhood Crypto. During the program, these companies will provide critical metrics that will be specified by DFI. Through the data collected from these companies, legislators will be better placed to come up with policies touching on digital currencies.

When welcoming the participating companies, the State’s Commissioner of Financial Institutions, Iris Ikeda, commented,

“We are excited to welcome our inaugural batch of participants into the DCIL. Hawaii-based consumers can look forward to a variety of options for services offered by digital currency companies in the state.“

Crypto regulation in Hawaii

Since the introduction of double-reserve requirement in the state back in 2017, crypto activity in Hawaii has been dwindling. Some of the companies that called it quits in Hawaii include Coinbase. Through the sandbox, HTDC hoped to address the concerns of crypto companies that were driven out by the requirement. However, the vision of Hawaii for blockchain is unclear once the sandbox is over.

BitFlyer USA Lands in Hawaii After Regulatory Collaboration (www.blockcast.cc)

BitFlyer USA, the American branch of Tokyo-based cryptocurrency exchange BitFlyer, unveiled upcoming compatibility in the U.S. state of Hawaii.  

“We chose Hawaii due to the regulatory sandbox for digital currency they set up,” BitFlyer COO Joel Edgerton told Cointelegraph. “We also chose Hawaii due to close links between the state and Japan,” he added. “Our name recognition is particularly high in Hawaii.”

Hawaii’s Division of Financial Institutions and its Technology Development Corporation constructed the Digital Currency Innovation Lab — the gateway used to bring BitFlyer into the state, said an Aug. 19 statement BitFlyer provided to Cointelegraph. 

In its initial phases of experimentation, the Digital Currency Innovation Lab acts as a regulatory playground, giving crypto companies two years of leeway in Hawaii to function void of a money transmitter license, the statement included. BitFlyer will offer Hawaiians use of its exchange on desktop and mobile devices. 

BitFlyer often evaluates the regulatory scene across different U.S. regions, with the move into Hawaii resulting from accommodating rules and regulations recently placed in the state, Edgerton explained. BitFlyer is currently available in 48 U.S. states and territories.

“The new Hawaii program is unique and approved to continue until Dec. 31, 2022,” Edgerton explained. “We hope that the sandbox program will give regulators visibility into the innovation of companies working in the program and approve a long term licensing regime for cryptocurrency exchanges beyond the program end date.”

The move into Hawaii also correlates with Japan, according to BitFlyer USA founder and CEO, Yuzo Kano. “Since many Japanese people live in or travel to Hawaii, it is the state that serves as a bridge between Japan and the U.S.,” he told Cointelegraph. “Offering our service here is very significant as an exchange that originates in Japan.” 

Amid a number of developments in 2020, BitFlyer has also made headlines for its blockchain-based shareholder voting app. 

Go to Source

Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Benjamin Pirus

BitFlyer USA Lands in Hawaii After Regulatory Collaboration (www.blockcast.cc)

BitFlyer USA, the American branch of Tokyo-based cryptocurrency exchange BitFlyer, unveiled upcoming compatibility in the U.S. state of Hawaii.  

“We chose Hawaii due to the regulatory sandbox for digital currency they set up,” BitFlyer COO Joel Edgerton told Cointelegraph. “We also chose Hawaii due to close links between the state and Japan,” he added. “Our name recognition is particularly high in Hawaii.”

Hawaii’s Division of Financial Institutions and its Technology Development Corporation constructed the Digital Currency Innovation Lab — the gateway used to bring BitFlyer into the state, said an Aug. 19 statement BitFlyer provided to Cointelegraph. 

In its initial phases of experimentation, the Digital Currency Innovation Lab acts as a regulatory playground, giving crypto companies two years of leeway in Hawaii to function void of a money transmitter license, the statement included. BitFlyer will offer Hawaiians use of its exchange on desktop and mobile devices. 

BitFlyer often evaluates the regulatory scene across different U.S. regions, with the move into Hawaii resulting from accommodating rules and regulations recently placed in the state, Edgerton explained. BitFlyer is currently available in 48 U.S. states and territories.

“The new Hawaii program is unique and approved to continue until Dec. 31, 2022,” Edgerton explained. “We hope that the sandbox program will give regulators visibility into the innovation of companies working in the program and approve a long term licensing regime for cryptocurrency exchanges beyond the program end date.”

The move into Hawaii also correlates with Japan, according to BitFlyer USA founder and CEO, Yuzo Kano. “Since many Japanese people live in or travel to Hawaii, it is the state that serves as a bridge between Japan and the U.S.,” he told Cointelegraph. “Offering our service here is very significant as an exchange that originates in Japan.” 

Amid a number of developments in 2020, BitFlyer has also made headlines for its blockchain-based shareholder voting app. 

Go to Source

Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Benjamin Pirus

BitFlyer USA Lands in Hawaii After Regulatory Collaboration (www.blockcast.cc)

BitFlyer USA, the American branch of Tokyo-based cryptocurrency exchange BitFlyer, unveiled upcoming compatibility in the U.S. state of Hawaii.  

“We chose Hawaii due to the regulatory sandbox for digital currency they set up,” BitFlyer COO Joel Edgerton told Cointelegraph. “We also chose Hawaii due to close links between the state and Japan,” he added. “Our name recognition is particularly high in Hawaii.”

Hawaii’s Division of Financial Institutions and its Technology Development Corporation constructed the Digital Currency Innovation Lab — the gateway used to bring BitFlyer into the state, said an Aug. 19 statement BitFlyer provided to Cointelegraph. 

In its initial phases of experimentation, the Digital Currency Innovation Lab acts as a regulatory playground, giving crypto companies two years of leeway in Hawaii to function void of a money transmitter license, the statement included. BitFlyer will offer Hawaiians use of its exchange on desktop and mobile devices. 

BitFlyer often evaluates the regulatory scene across different U.S. regions, with the move into Hawaii resulting from accommodating rules and regulations recently placed in the state, Edgerton explained. BitFlyer is currently available in 48 U.S. states and territories.

“The new Hawaii program is unique and approved to continue until Dec. 31, 2022,” Edgerton explained. “We hope that the sandbox program will give regulators visibility into the innovation of companies working in the program and approve a long term licensing regime for cryptocurrency exchanges beyond the program end date.”

The move into Hawaii also correlates with Japan, according to BitFlyer USA founder and CEO, Yuzo Kano. “Since many Japanese people live in or travel to Hawaii, it is the state that serves as a bridge between Japan and the U.S.,” he told Cointelegraph. “Offering our service here is very significant as an exchange that originates in Japan.” 

Amid a number of developments in 2020, BitFlyer has also made headlines for its blockchain-based shareholder voting app. 

Go to Source

Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Benjamin Pirus

BitFlyer USA Lands in Hawaii After Regulatory Collaboration (www.blockcast.cc)

BitFlyer USA, the American branch of Tokyo-based cryptocurrency exchange BitFlyer, unveiled upcoming compatibility in the U.S. state of Hawaii.  

“We chose Hawaii due to the regulatory sandbox for digital currency they set up,” BitFlyer COO Joel Edgerton told Cointelegraph. “We also chose Hawaii due to close links between the state and Japan,” he added. “Our name recognition is particularly high in Hawaii.”

Hawaii’s Division of Financial Institutions and its Technology Development Corporation constructed the Digital Currency Innovation Lab — the gateway used to bring BitFlyer into the state, said an Aug. 19 statement BitFlyer provided to Cointelegraph. 

In its initial phases of experimentation, the Digital Currency Innovation Lab acts as a regulatory playground, giving crypto companies two years of leeway in Hawaii to function void of a money transmitter license, the statement included. BitFlyer will offer Hawaiians use of its exchange on desktop and mobile devices. 

BitFlyer often evaluates the regulatory scene across different U.S. regions, with the move into Hawaii resulting from accommodating rules and regulations recently placed in the state, Edgerton explained. BitFlyer is currently available in 48 U.S. states and territories.

“The new Hawaii program is unique and approved to continue until Dec. 31, 2022,” Edgerton explained. “We hope that the sandbox program will give regulators visibility into the innovation of companies working in the program and approve a long term licensing regime for cryptocurrency exchanges beyond the program end date.”

The move into Hawaii also correlates with Japan, according to BitFlyer USA founder and CEO, Yuzo Kano. “Since many Japanese people live in or travel to Hawaii, it is the state that serves as a bridge between Japan and the U.S.,” he told Cointelegraph. “Offering our service here is very significant as an exchange that originates in Japan.” 

Amid a number of developments in 2020, BitFlyer has also made headlines for its blockchain-based shareholder voting app. 

Go to Source

Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Benjamin Pirus

BitFlyer USA Lands in Hawaii After Regulatory Collaboration (www.blockcast.cc)

BitFlyer USA, the American branch of Tokyo-based cryptocurrency exchange BitFlyer, unveiled upcoming compatibility in the U.S. state of Hawaii.  

“We chose Hawaii due to the regulatory sandbox for digital currency they set up,” BitFlyer COO Joel Edgerton told Cointelegraph. “We also chose Hawaii due to close links between the state and Japan,” he added. “Our name recognition is particularly high in Hawaii.”

Hawaii’s Division of Financial Institutions and its Technology Development Corporation constructed the Digital Currency Innovation Lab — the gateway used to bring BitFlyer into the state, said an Aug. 19 statement BitFlyer provided to Cointelegraph. 

In its initial phases of experimentation, the Digital Currency Innovation Lab acts as a regulatory playground, giving crypto companies two years of leeway in Hawaii to function void of a money transmitter license, the statement included. BitFlyer will offer Hawaiians use of its exchange on desktop and mobile devices. 

BitFlyer often evaluates the regulatory scene across different U.S. regions, with the move into Hawaii resulting from accommodating rules and regulations recently placed in the state, Edgerton explained. BitFlyer is currently available in 48 U.S. states and territories.

“The new Hawaii program is unique and approved to continue until Dec. 31, 2022,” Edgerton explained. “We hope that the sandbox program will give regulators visibility into the innovation of companies working in the program and approve a long term licensing regime for cryptocurrency exchanges beyond the program end date.”

The move into Hawaii also correlates with Japan, according to BitFlyer USA founder and CEO, Yuzo Kano. “Since many Japanese people live in or travel to Hawaii, it is the state that serves as a bridge between Japan and the U.S.,” he told Cointelegraph. “Offering our service here is very significant as an exchange that originates in Japan.” 

Amid a number of developments in 2020, BitFlyer has also made headlines for its blockchain-based shareholder voting app. 

Go to Source

Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Benjamin Pirus